Currency snapshot (commodity pairs)

Dollar index trading at 96.87 (-0.27%)

Strength meter (today so far) – Aussie +0.25%, Kiwi +0.15%, Loonie +0.07%

Strength meter (since last week) – Aussie -1.14%, Kiwi -1.90%, Loonie -0.82%

AUD/USD –

Trading at 0.748

Trend meter –

• Long term – Range, Medium term – Sell, Short term – Range

Support –

• Long term – 0.683, Medium term – 0.72, Short term – 0.73

Resistance –

• Long term – 0.782, Medium term – 0.765, Short term – 0.765

Economic release today –

• National Australia Bank’s business confidence declined to 2 in second quarter from 4.

Commentary –

• Aussie is marginally higher for the day. Active call – Buy AUD/USD at 0.752 and at dip with the stop loss at 0.71 and the target at 0.82

NZD/USD –

Trading at 0.697

Trend meter –

• Long term – Sell, Medium term – Range, Short term – range

Support –

• Long term – 0.66, Medium term – 0.69, Short term – 0.69

Resistance –

• Long term – 0.8, Medium term – 0.76, Short term – 0.73

Economic release today –

• NIL

Commentary –

• Kiwi is the worst performer of the week and broken below key 0.7 area.

USD/CAD –

Trading at 1.305

Trend meter –

• Long term – sell, Medium term – sell, Short term – Range

Support –

• Long term – 1.248, Medium term – 1.25 , Short term – 1.25

Resistance –

• Long term – 1.334, Medium term – 1.32, Short term – 1.32

Economic release today –

• NIL

Commentary –   

• Lower oil price weighs on the Canadian dollar.